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Buyer Journey Workshop (Marketing Attribution)

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Understand the Marketing Mix using advance Marketing Attribution Models. Quick guide to help you achieve expertise with Marketing Attribution.

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Buyer Journey Workshop (Marketing Attribution)

  1. 1. Buyer Journey Workshop Kashif Khurshid CaptainAnalytics.com Jan 2019
  2. 2. Marketing Attribution Workshop Agenda Phase 1: Attribution & the Organization • How to getting started • Organizational readiness • Setting up leadership for success • Why Attribution matters • Common use cases of attribution • Top marketing attribution vendors Phase 2: Attribution Models & Customer Journey Mapping • Types of attribution models • Advance attribution models • Considerations of Attribution • How to study attribution Phase 3: Success Measurement with Attribution • Measurement of success • Journey mapping • ROI Measurement • Dashboard & Reporting Phase 4: Mistakes to Avoid with Attribution • Where does data come from and its quality • Best practices & considerations for CRM configurations @KashifKhurshid
  3. 3. What's your story?
  4. 4. Maturity of Digital Analytics
  5. 5. Maturity of Digital Analytics Digital Data •(Ad Words) Digital + Offline Data •Campaigns + Vanity URL’s Multi-Session •Visitor (IP vs. Cookie) Devices & Mobile Analytics •Unification of Customer Omni Channel (Marketing Mix) •Digital + Sales + Offline + Other Sources @KashifKhurshid Buyer Journey Modeling (Marketing Attribution)
  6. 6. Buyer Journey Classifications Demand Generation • Lead and Pre- Sale Activity • Awareness Stage Pipeline Marketing • Impactful Selling Motions • Research and Consideration Stage Advocacy & Retention • Prove success and deepen share of wallet • Post Purchase Evaluation @KashifKhurshid
  7. 7. What is your MarTech Stack? Data and Insights to support marketing and campaign activities • Prospect Behavior • Person is known (identifiable) CRM : SalesForce • Web Behavior • Anonymous PersonDigital Analytics: Adobe Attribution: Bizible • Ability to stich anonymous visitor to a lead • Ability to track a lead through every campaign/ marketing program in Journey • Apply attribution models for assigning credit to marketing program in Journey Automation, Data Management & Integration (i.e. Lead Deduplication & Enrichment) Visualization&Dashboards @KashifKhurshid
  8. 8. Exercise 1 • Draw out/ Diagram your Data and Technology Stack? (10 Minutes) @KashifKhurshid
  9. 9. Getting Started with Attribution Phase 1: Attribution & the Organization
  10. 10. How are you Making Marketing Decision Today
  11. 11. Step 1: Questions to Ask at Start: If we can answer yes to ALL then we are ready to get started with marketing attribution modeling Is an attribution tool important to us? If so, what kind of insights do we expect to get from it? Are we willing to make decisions from the insights? Are we okay with less than perfect data? Do we have resources/ teams to do the up keep of the tool? Are we willing to change processes to keep up with best practices for the tool? @KashifKhurshid
  12. 12. Step 2: Setting up Attribution for Success If we agree to the above, you are now ready to act upon the insights Agree that the data is not perfect and may never be perfect (many systems are integrated and there may be exceptions happening) Agree internally on an Data acceptance rate (i.e. 80% accuracy is an acceptable rate) Explanation of data- its complex and difficult to follow and easy to forget- understand the process and then trust your analytics team @KashifKhurshid
  13. 13. Why Attribution is becoming Important? constant growth in new technology and new channels for business touchpoints that played the most important role, from the first exposure to the very last action Econsultancy has estimated that 37% of in-house marketers have used attribution as part of their strategy in 2017, while there is an estimate that 6 out of 10 US companies will adopt a multi- channel attribution during 2018. @KashifKhurshid
  14. 14. Understanding Attribution What is attribution modeling? • Gives weight to multichannel engagement and helps assess impact of each activity Why is attribution modeling so important? • Its about knowing your true cost and ROI per customer/account and tying activities to final numbers What does attribution tell me? • It helps understand the revenue impact of each activity How can I effectively use attribution? • By building out customer & buyer journeys @KashifKhurshid
  15. 15. Exercise 2 Split up in groups and identify 5 use cases on how your organization will use attribution modeling? What challenges will prevent us from implementing or using attribution? (10 Minutes) @KashifKhurshid
  16. 16. What to get out of Attribution? Spread credit across multiple touchpoints Allocate spend to the most effective channels Understand true ROI & cost per deal Make smarter data driven decisions @KashifKhurshid
  17. 17. Use Cases for Attribution 1.1. Best top of funnel, mid-funnel and bottom of funnel programs / campaigns / Content 2. What is the profile and journey of high value deals 1.3. How many touchpoints does it take to close a deal 4. Is the additional touchpoint/activity helping move the metrics in a positive or negative direction 5. How much is each channels contribution to overall business (2 -3 models) 6. Improve scoring models based on touchpoints data 7. Determine audience segments & roles that are most effective at different stages 8. Where and how to allocate budget @KashifKhurshid
  18. 18. Top Attribution Vendors Bizible (Adobe) Bright Funnel Full Circle https://www.g2crowd.com/categories/attribution @KashifKhurshid
  19. 19. Marketing Attribution Fundamentals Phase 2: Attribution Models & Customer Journey Mapping
  20. 20. Types of Attribution models all credit to first touch First Touch All credit to the first time the lead signed up Lead Create All credit to last touch prior to conversion Last Touch Equal credit across every touchpoint Linear (assign different weights to top, middle and bottom of funnel) Weight ed @KashifKhurshid
  21. 21. Exercise 3 • What Model will you apply to your customer Journey and Why? • What insights do each of the 5 models provide? (10 Minutes) @KashifKhurshid
  22. 22. Advance Attribution models Time decay (only evaluate touchpoints within a year) Position based (major and minor touchpoints) Priority / preference based (cascading logic) Machine Learning (Algorithm) @KashifKhurshid
  23. 23. Takeaway of Attribution Not every channel is created equal There may be multiple channels driving to the same content/ event We can no longer study the performance of a channel by itself- it needs to be tied to the message (i.e. events, white paper, etc) Devices and assets (forms), content (blog, infographic, non gated studied, white papers, videos, checklist, reports, data sheets, calculators, guide, reviews, webinars) @KashifKhurshid
  24. 24. KPI’s, Dashboards & Insights Phase 3: Success Measurement with Attribution
  25. 25. Shoot, here it goes again…
  26. 26. Marketing Funnel
  27. 27. Customer Journey Display (First touch) Organic (Lead Created) Paid Search (Touchpoint) Direct (touchpoint filled form) Social (read blog) (MQL) Email (registered) Event (attended) (OTY) Call with Rep WhitePaper Sent Closed Paid (whitepaper) @KashifKhurshid
  28. 28. Exercise 4 Display (First touch) Organic (Lead Created) Paid Search (Touchpoint) Direct (touchpoint filled form) Social (read blog) (MQL) Email (registered) Event (attended) (OTY) Call with Rep WhitePaper Sent Closed Paid (whitepaper) • Draw out your customer journey Map with 8-10 touchpoints max (10 Minutes) • Should it include all touchpoints or particular interactions only? • Should they include online and offline interactions? Example to help you get started @KashifKhurshid
  29. 29. Marketing Attribution Logic FT LC Inquiry MQL TAL TQL SAL SQL OC Discovery C/Won FT to LC (Positive #) INQ to OC FT to LC LC to Inq Inq to MQL MQL to TAL TAL to MQL TQL to SAL SAL to SQL SQL to OC PIP to C/Won Pre LC Pre INQ Pre MQL Pre TAL Pre TQL Pre SAL Pre SQL Pre OC Pre Close Major Touchpoints: Minor Touchpoints: Age in Stage Pre Close OC to PIP Age to Stage @KashifKhurshid
  30. 30. Journey & Attribution FT TP TP LC TP TP TP OC TP CWON Sourced: Unique Counts Influenced: Multiple Touchpoints Counts Sourced Influenced Sourced: Journey within 365 Days Influenced: Journey within 365 Days @KashifKhurshid Influenced
  31. 31. Exercise 5 • Assign credits and weights to each touchpoint so that the sum equal to 1 (100%) • What are the key pieces of Data you would want to collect for each touchpoint?(15 Minutes) @KashifKhurshid
  32. 32. Buyer Journey in Action Campaign Name Marketing Channel that Lead to the Closed Deal Credit split across all activities
  33. 33. Attribution Modeling Configuration @KashifKhurshid
  34. 34. Types of Insights in a Journey Marketing Channels (Social) Landing Pages (Home Page) Form Fills (Download) Ad Campaign (Brand Campaign) Content Classification (Industry Conference) Device (Mobile) @KashifKhurshid
  35. 35. Key Metrics Gained by Attribution Number of touchpoints % of contribution Return Spend Cost Per Deal Velocity Customer Lifetime value & cost @KashifKhurshid
  36. 36. Attribution Credit Allocation Website interaction (impressions, clicks, visits, downloads, videos, infographics, etc) Website Form Fills (all forms or specific category, form name) Credit given to all touchpoints of Lead Credit given to last touchpoint at any or key stage changes Credit given to interaction that created the lead AnonymousLeadInbound/KnownLead @KashifKhurshid
  37. 37. Exercise 6 (20 Minutes) • Define your Lead Funnel • (Lead, MQL, SQL, OTY, Development, Negotiate, Closed Won Business) • Select a Marketing Activity & Identify your KPI’s (Key performance Indicators) for that activity • (Email, Paid Search, Sales interaction, etc.) • Design your Dashboard Layout @KashifKhurshid
  38. 38. Leadership Metrics Demand Generation Sales Marketing Partners Closed Won Deals Opportunities Inventory Qualified Leads Leads Forecast @KashifKhurshid
  39. 39. Sample Reporting Template Credit to all touchpointsCredit to Stage ChangesCredit to Lead Create Model Actual vs. Plan 0 10 20 1 2 3 Trend Distribution 1 2 3 Up + XX% Actual vs. Plan 0 10 20 1 2 3 Trend Distribution 1 2 3 Up + XX% Actual vs. Plan 0 10 20 1 2 3 Trend Distribution 1 2 3 Up + XX% @KashifKhurshid
  40. 40. Dashboard for each Department / LOB Demand Generation Digital Marketing Direct Organic Social Paid Events Marketing National Regional Local Partner Marketing Premium Developmental Inbound Marketing Prospecting Lists @KashifKhurshid
  41. 41. Common Mistakes with Attribution Modeling Phase 4: Mistakes to Avoid with Attribution
  42. 42. Standardize Naming Convention • Use a consistent naming convention and nomenclature for Campaigns & UTM’s CaptainAnalytics.com  Free Tools  Tracking Best Practices Templates
  43. 43. Stage Mapping in Journey Contact • Primary or Demand Unit Stages Configuration: • pre-pipeline and in pipeline Touchpoint Date vs. Stage Date • Mapping to customer interaction or system update Velocity: • calculation for number of days between stages Assets: Gated Vs. Ungated • Assets to include in Journey @KashifKhurshid
  44. 44. Event and Webinar Configuration Give credit for registering Give credit for responded Give credit for a particular or key status (i.e. attended) Considerations: Date stamped based on: • Registered for event • Attended the event • Event list uploaded • Watched on demand (Webinar specific) @KashifKhurshid
  45. 45. Contact Configuration • Both contacts go through the same journey, which touchpoints should be counted for each stage • Options: Single Contact Primary Contact Converted Contact Demand Unit (Multiple Contacts) All Contacts Contacts based on Roles Question: Which contacts touchpoints are mapped into the journey Oldest, newest or within a set period (365 days) between contacts @KashifKhurshid
  46. 46. Lead Stage Configuration Based on Status Field (Historical Table) • No need for additional fields • More complex for historical inventory calculation • No way to remove errors Based on Stage Date Fields • Can be updated to remove errors • Use Cases it supports • Volume of New • Count of Inventory • Age in Stage (Velocity) • Age to Stage (Velocity) Options: @KashifKhurshid
  47. 47. Lead Stage and Stage Date Fields • Current: configured to stamp when lead status field is updated • Fields must be locked by validation rules to block any skip logic from occurring Options: Stage Date Stamp Oldest Newest Wiped Clean for flow Integrity (Not on recycle) @KashifKhurshid
  48. 48. MarketingChannelGrouping Marketing Channels Direct Direct Web Web Referral Email Social LinkedIn, Facebook, Twitter Paid Media Paid Search Bing Adwords Retargeting Paid Social Webinar Display Programmatic Native Content Syndication 3rd Party Sites Events Conferences Tradeshows @KashifKhurshid
  49. 49. Fields doing similar things Lead Source Lead Source Detail Primary Campaign Marketing Channels Marketing Sub Channel Touchpoint Type Touchpoint Source Ad/ SFDC Campaign Each field should have a unique purpose @KashifKhurshid
  50. 50. Touchpoint Type Touchpoint Source / System Marketing Channel Sub Channel List Upload (Partner,Field) Marketo Sync Sales Activity (Field) Web Form (Marketing) SFDC User Outreach IO Sync Impartner User Direct Web Referral Social Managed Outreach Email Display Social Organic Webinar Paid Search Events Conference Alert Logic Site Promotion- SPIFF UTM Free Trial Request Bing Google Tradeshow (Exhibitor) Facebook Partner Tradeshow Call Answered Marketo LinkedIn Yahoo AdWords Transition Set Level 1 Level 2 Level 3 Level 4 Level 5 CampaignName
  51. 51. Summary of Considerations Identify Activities & Sources to Track  List upload, SFDC Campaign, Web visit, UTM tracking, Sales Activity  Naming Convention Best Practices Contacts Configuration • Single contact vs. primary contact vs all contacts Opportunities • Success on LC Model vs. Before OC vs. Post OC Marketing Channel • Group Marketing Channels Goal Alignment • Avoid Fields Doing similar things • Unsubscribe forms exclusion • Align Company objective with assets Sales Team Reporting  Set SLA’s  Monitor Pipeline stage duration and stage conversion rates @KashifKhurshid
  52. 52. To Conclude…
  53. 53. Step 1: Determine How you want to spread the focus Demand Generation • Lead and Pre- Sale Activity • Awareness Stage Pipeline Marketing • Impactful Selling Motions • Research and Consideration Stage Advocacy & Retention • Prove success and deepen share of wallet • Post Purchase Evaluation @KashifKhurshid
  54. 54. Step 2: Establish Success Criteria’s Group people in Personas or Segments based on key business factors Industry, size of company, content category, channels, role, etc. Determine Goals you Want to Achieve from Buyer Journey Modeling Optimize a stage flow through @KashifKhurshid
  55. 55. Step 3: Specify Details of the Journey Establish Stages of Buying Cycle • Lead Created  Accepted  Approved  Converted • Development  Proposal  Negotiate  Closed Won Identify Touchpoint Types to Track in Journey • Digital + Campaigns + Sales Activity + Call Center Activity +Other Offline Sources Determine Activities that Cause Stage Change • May have multiple activities between stages- identify how credit is assigned amongst them • Identify the items to track (asset type, marketing channel, devices, data source, etc) Select attribution models that fits the Organizations Optimization efforts • First Touch, Lead Create, U Shaped, W Shaped, Last Touch, Linear, etc. @KashifKhurshid
  56. 56. Step 4: Analyze and Activate on Insights Establish the right optics based on your business case (live dashboards) Accurately measure ROI without over-estimating Understand the true cost of acquiring a customer Optimize funnel based on insights and objectives @KashifKhurshid
  57. 57. @Kashif Khurshid CaptainAnalytics.com Contact: KashifKhurshid@Gmail.com Cell: (832) 228 - 7427 You Survived!
  58. 58. Buyer Journey Attribution Playbook 1. My Primary Attribution Focus will be: (DG, PM, AR) 2. Marketing Tech stack will consist of the following: 3. My Org will use an Attribution tool for the following reasons: 4. We will set & evaluate the following buying stages from our funnel? 5. We will apply ____________ Attribution Model in our organization with the following weighting for each stage? 6. We will use the following key metrics (no more than 5) to evaluate our business success: 7. We will consider the following best practices for configuration of our MarTech Stack and common pitfalls to avoid? @KashifKhurshid

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